Zilliqa is a smart contract platform with a sharded design that seeks to solve the scalability issues that other blockchains have. Its sharded architecture allows concurrent chains to perform transactions in simultaneously, boosting the network's total capacity. In addition to scalability, Zilliqa offers a smart contract layer that allows users to create smart contracts using Scilla, the company's native programming language. The network uses a hybrid Proof-of-Work-BFT technique to reach consensus on transactions and contract executions. It will also add a staking mechanism in the coming weeks to, as it puts it, "expand the dispersion of node operators."
Why Zilliqa?
Sharding
Sharding is a network splitting mechanism that divides the network into many shards, allowing nodes to only handle a fraction of the transactions.
Each shard functions as its own blockchain, allowing nodes allocated to it to store data, process transactions, and add new microblocks to the shard chain.
Directory Service Nodes (or DS nodes) assemble microblocks into a transaction block, which is subsequently uploaded to the Zilliqa blockchain.
The shard nodes only carry a fraction of the Zilliqa blockchain and do not need to keep the whole history of Zilliqa.
Fault Tolerance in Byzantine Practice (pBFT)
The Practical Byzantine Fault Tolerance (pBFT) governance system, which maintains the distributed network of computers in sync, lies at the heart of Zilliqa.
Nodes must stake ZIL before they can power the blockchain and vote on modifications, meaning that everyone who possesses ZIL may assist run the network. Before a microblock is completed and integrated into a transaction block using pBFT, all nodes allocated to certain shards must agree.
For validating the transactions, each node is awarded with a piece of the block reward.
The Zilliqa development team has a solid technical and business background.
An engaged community and good collaborations promote a powerful network.
Zilliqa's testnet has already surpassed the transaction speeds of Visa, outperforming conventional blockchains such as Bitcoin and Ethereum. For more efficient mining, its sharding method employs a hybrid PoW consensus mechanism.
Zilliqa is available on a number of exchanges and is working effectively even as a testnet. When development is complete, this blockchain might partially or temporarily absorb Ethereum's overflow.
Key Resources & Readings:
Zilliqa
What is Zilliqa (ZIL) | History, Roadmap, Economics | Messari
https://messari.io › asset › zilliqa › profile
Zilliqa (ZIL) complete guide | What it is and how it works
https://www.finder.com › zilliqa
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